May 25, 2011

OCC Proposes Rule to Facilitate Transfer of Functions From OTS

The OCC has proposed a rule to amend its regulations governing organization and functions, availability and release of information, post-employment restrictions for senior examiners and assessment of fees to incorporate the transfer of certain functions of the Office of Thrift Supervision to the OCC pursuant to Title III of the Dodd-Frank Act. The OCC also has proposed amendments to its rules pertaining to: change in control of credit card banks and trust banks, to implement Section 603 of the Dodd-Frank Act; deposit-taking by uninsured federal branches, to implement Section 335 of the Act; and its preemption and visitorial powers rules, subpart D, to implement various sections of the Act.